If you’re choosing a deposit or you simply have more savings in the bank, one key question quickly comes up: what happens if the bank runs into trouble? That is exactly why a deposit guarantee up to €100,000 is one of the most important “safety nets” in the EU, but in practice people often understand it far too simplistically. In this article, we explain how the limit is calculated, what is included, what is not, and what you can do if you have more than €100,000. If you’re currently comparing options, you can first use the deposit comparison or quickly estimate your return in the deposit calculator.

What does a deposit guarantee up to €100,000 mean?

In Slovenia, deposits held by individuals and small businesses are protected under the deposit guarantee scheme. Broadly speaking, this means that if a bank becomes unavailable (for example, insolvent) and savers cannot access their funds, the system pays out guaranteed deposits up to €100,000 per depositor at each individual bank.

The key point: the limit is “per person and per bank”

This is the most common misunderstanding. The guarantee does not apply to each individual account (current account, savings account, deposit, etc.), but to the total amount of your deposits at the same bank:

Example

If you have €60,000 in a current account, €30,000 in a savings account, and €20,000 in a deposit at the same bank, your total exposure is €110,000. The guaranteed portion is €100,000, while the remaining €10,000 is not guaranteed.

What is (usually) covered?

The guarantee generally covers:

  • Funds in current accounts and savings accounts
  • Deposits (fixed-term deposits)
  • Interest that had already accrued by the day the funds became unavailable (up to the limit)

What is not covered (and this is where people often get it wrong)

A deposit guarantee does not mean that “everything held at the bank” is protected. The following are usually not covered:

  • Shares, bonds, funds, and other securities (these are not “deposits”)
  • Investment-linked policies (life insurance with an investment component)
  • Crypto and similar products
  • Money market funds offered by some neobanks (for example Revolut Flexible Cash Funds). Which neobank offers are deposits and which are funds is covered in Neobanks in Slovenia.

How is the guarantee calculated for joint accounts?

For a joint account, the funds are usually divided among the account holders. Put simply: if there are 2 holders on the account, the amount is usually counted “half and half” (unless the bank records it differently). In practice, a joint account can therefore mean a higher combined guaranteed amount (for example, 2 x €100,000), because the limit applies per person.

What should you do if you have more than €100,000?

If you are approaching the limit or already above it, there are a few typical approaches:

  • Spread your funds across several banks (the limit applies per bank)
  • Consider splitting funds across several maturities (liquidity + interest rate management)
  • Check whether part of your money is held in products that are not deposits (and understand their risk)

If you are choosing between several maturities, it also makes sense to account for the “cost of waiting” (how much interest you lose if the money stays in your current account). The Opportunity Cost calculator is useful for that.

How quickly does the payout happen?

There is one more important factor with a guarantee: time. Even if a deposit is guaranteed, that does not mean you get the money back the same day. In practice, the payout timeline depends on the process and the specific event, but the aim of guarantee schemes is fast payout. That is why it makes sense to always keep part of your money liquid and diversified (for example, at least 1-3 months of living expenses).